The sharemarket edged up, led by retirement village operator Summerset which posted a leap in first-half profit to $263.8 million, and reassured investors it could get through a long lockdown if necessary.
The benchmark S&P/NZX 50 Index advanced 7.787 points, or 0.06 per cent, to 13,071.86 on Tuesday.
Summerset closed up 4.6 per cent to $13.80, after touching a record high of $14.05.
Chief executive Scott Scoullar said the company was seeing strong demand and nearly 60 per cent of villas in its developing villages nationwide were pre-sold. The company sold 545 units in the six months to the end of June 30, a record for a half year.
READ MORE:
* Sharemarket lifts as Z Energy surges on takeover talk
* S&P/NZX50 Index climbs 0.6 per cent after a solid bounce for F&P Healthcare
* Sharemarket gains, led by investor buying in larger stocks
“It’s an exceptionally solid result, with good numbers in a sector which is still growing,” said Craigs Investment Partners adviser Peter…